TD Cowen Forecasts Strong Price Appreciation for CAVA Group (NYSE:CAVA) Stock

CAVA Group (NYSE:CAVA) had its price objective boosted by TD Cowen from $90.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 24.44% from the stock’s current price.

A number of other research analysts also recently weighed in on the stock. UBS Group increased their target price on shares of CAVA Group from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Johnson Rice set a $72.00 price target on shares of CAVA Group in a report on Monday, January 5th. Guggenheim initiated coverage on CAVA Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $100.00 price objective on the stock. Argus reissued a “hold” rating on shares of CAVA Group in a research report on Friday, February 27th. Finally, Morgan Stanley boosted their target price on CAVA Group from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $85.92.

CAVA Group Stock Performance

Shares of NYSE:CAVA opened at $80.36 on Thursday. The company’s 50-day moving average is $74.06 and its 200 day moving average is $64.04. The company has a market capitalization of $9.35 billion, a P/E ratio of 148.82, a price-to-earnings-growth ratio of 6.90 and a beta of 2.02. CAVA Group has a fifty-two week low of $43.41 and a fifty-two week high of $101.50.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $274.99 million during the quarter, compared to the consensus estimate of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 earnings per share. As a group, research analysts predict that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other news, insider Theodoros Xenohristos sold 1,039 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $64,563.46. Following the sale, the insider directly owned 332,205 shares in the company, valued at $20,643,218.70. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Tricia K. Tolivar sold 2,404 shares of the stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $149,384.56. Following the completion of the sale, the chief financial officer directly owned 231,934 shares in the company, valued at approximately $14,412,378.76. The trade was a 1.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 39,055 shares of company stock worth $2,572,303. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in CAVA Group by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock valued at $564,590,000 after purchasing an additional 313,938 shares during the period. Capital Research Global Investors increased its holdings in shares of CAVA Group by 27.2% in the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after purchasing an additional 1,805,174 shares during the period. Capital International Investors raised its position in shares of CAVA Group by 15.5% in the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock worth $286,718,000 after buying an additional 656,581 shares in the last quarter. Morgan Stanley raised its position in shares of CAVA Group by 33.7% in the fourth quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock worth $194,786,000 after buying an additional 835,628 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in CAVA Group by 118.3% during the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after buying an additional 1,600,630 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.